Illinois Municipal Retirement Fund trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 25.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,443 shares of the insurance provider's stock after selling 35,142 shares during the period. Illinois Municipal Retirement Fund's holdings in Arch Capital Group were worth $8,325,000 at the end of the most recent quarter.
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Other institutional investors also recently bought and sold shares of the company. Wakefield Asset Management LLLP purchased a new position in Arch Capital Group during the second quarter valued at $2,578,000. AdvisorNet Financial Inc grew its stake in shares of Arch Capital Group by 3.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 14,900 shares of the insurance provider's stock worth $1,188,000 after buying an additional 460 shares in the last quarter. EA Series Trust purchased a new position in shares of Arch Capital Group in the 2nd quarter worth $3,125,000. Jefferies Financial Group Inc. grew its stake in shares of Arch Capital Group by 3,472.0% in the 2nd quarter. Jefferies Financial Group Inc. now owns 128,236 shares of the insurance provider's stock worth $9,598,000 after buying an additional 124,646 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of Arch Capital Group by 16.0% in the 3rd quarter. WCM Investment Management LLC now owns 15,956,744 shares of the insurance provider's stock worth $1,275,901,000 after buying an additional 2,204,338 shares in the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.
Arch Capital Group Trading Up 0.4 %
ACGL traded up $0.30 on Friday, reaching $79.90. 1,321,863 shares of the company traded hands, compared to its average volume of 1,474,934. Arch Capital Group Ltd. has a one year low of $60.70 and a one year high of $90.65. The firm has a fifty day simple moving average of $78.78 and a two-hundred day simple moving average of $79.74. The company has a market cap of $29.82 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.59. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.22.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The insurance provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.77. Arch Capital Group had a net margin of 23.46% and a return on equity of 23.06%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the business posted $0.28 EPS. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 7.9 earnings per share for the current year.
Insider Activity
In other news, insider Nicolas Papadopoulo sold 60,000 shares of the business's stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $85.80, for a total value of $5,148,000.00. Following the completion of the sale, the insider now owns 630,387 shares in the company, valued at approximately $54,087,204.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO David Gansberg sold 7,350 shares of Arch Capital Group stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $89.49, for a total value of $657,751.50. Following the transaction, the chief executive officer now owns 208,368 shares of the company's stock, valued at approximately $18,646,852.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $85.80, for a total transaction of $5,148,000.00. Following the completion of the transaction, the insider now directly owns 630,387 shares in the company, valued at approximately $54,087,204.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,378 shares of company stock worth $14,564,162. 4.20% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have commented on ACGL shares. Royal Bank of Canada lifted their price objective on shares of Arch Capital Group from $90.00 to $98.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 1st. Evercore ISI started coverage on shares of Arch Capital Group in a research note on Thursday, December 14th. They issued an "inline" rating and a $88.00 price objective for the company. TD Cowen initiated coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They issued an "outperform" rating and a $96.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Arch Capital Group from $89.00 to $95.00 in a report on Friday, October 6th. Finally, Citigroup lowered their target price on shares of Arch Capital Group from $91.00 to $89.00 and set a "neutral" rating for the company in a report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of "Moderate Buy" and a consensus price target of $91.43.
View Our Latest Report on Arch Capital Group
Arch Capital Group Profile
(Free Report)
Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursem*nt products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.
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Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report).
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Now, let's delve into the information presented in the provided article about the Illinois Municipal Retirement Fund's (IMRF) recent actions related to Arch Capital Group Ltd. (NASDAQ: ACGL). IMRF disclosed a 25.2% reduction in its stake in Arch Capital Group during the 3rd quarter, as reported in its most recent SEC filing. The institutional investor sold 35,142 shares, leaving them with 104,443 shares of Arch Capital Group, valued at $8,325,000 by the end of the quarter.
It's noteworthy that other institutional investors also made moves in Arch Capital Group. Wakefield Asset Management LLLP initiated a new position during the second quarter, acquiring shares valued at $2,578,000. Additionally, AdvisorNet Financial Inc increased its stake by 3.2% in the 3rd quarter, owning 14,900 shares worth $1,188,000. EA Series Trust entered the scene during the 2nd quarter, investing $3,125,000 in Arch Capital Group. Jefferies Financial Group Inc. witnessed a remarkable surge, growing its stake by 3,472.0%, holding 128,236 shares valued at $9,598,000. WCM Investment Management LLC, in the 3rd quarter, increased its stake by 16.0%, now owning a substantial 15,956,744 shares worth $1,275,901,000. Notably, 87.21% of Arch Capital Group's stock is owned by hedge funds and institutional investors.
Moving on to the company's financial performance and stock metrics, Arch Capital Group (ACGL) traded at $79.90 on the reported Friday, with a trading volume of 1,321,863 shares. The stock's one-year low is $60.70, while the one-year high is $90.65. The market capitalization stands at $29.82 billion, with a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.03, and a beta of 0.59. The quick ratio and current ratio are both 0.57, and the debt-to-equity ratio is 0.22.
In terms of recent financial results, Arch Capital Group reported earnings per share (EPS) of $2.31 for the last quarter, surpassing analysts' consensus estimates of $1.54 by $0.77. The company demonstrated a net margin of 23.46% and a return on equity of 23.06%. The quarter's revenue was $3.33 billion, slightly below analyst estimates of $3.46 billion. Analysts, as a group, anticipate that Arch Capital Group will post 7.9 earnings per share for the current year.
The article also sheds light on insider activities. Notably, insider Nicolas Papadopoulo sold 60,000 shares at an average price of $85.80, totaling $5,148,000. Following the sale, Papadopoulo now holds 630,387 shares valued at approximately $54,087,204.60. CEO David Gansberg also sold 7,350 shares at an average price of $89.49, amounting to $657,751.50. After the transaction, Gansberg owns 208,368 shares valued at around $18,646,852.32. Insider selling in the last quarter totaled 170,378 shares, representing 4.20% of the stock currently owned by corporate insiders.
Furthermore, the article includes insights from Wall Street analysts. Royal Bank of Canada raised Arch Capital Group's price objective from $90.00 to $98.00, maintaining an "outperform" rating. Other analysts provided ratings ranging from "inline" to "outperform," with price targets ranging from $88.00 to $96.00. However, Citigroup lowered its target price from $91.00 to $89.00, assigning a "neutral" rating.
In conclusion, the comprehensive overview of Arch Capital Group's recent developments, financial performance, and analyst assessments provides investors with a nuanced understanding of the company's position in the market. It's crucial for investors to consider various factors, including institutional activities, financial metrics, and analyst sentiments, when making informed investment decisions in the dynamic world of finance.
